Answer Questions Based on the Following Situation:
Black

question 9

Multiple Choice

Answer Questions based on the following situation:
Black Diamond Tennis & Golf Club offers golf and tennis memberships to the residents of Black Diamond, Ohio, in which there are two types of families: golf-oriented families and tennis-oriented families. There are 100 golf-oriented families and 100 tennis-oriented families in Black Diamond. Forecasted demand prices for golf and tennis memberships by family type are given below. There is no way to identify family types for pricing purposes, and all costs are fixed so that maximizing total revenue is equivalent to maximizing profit.
Demand Prices for Golf and Tennis Memberships
$$\begin{array} { | l | l | l | } \hline \text { Typeaf family } & \begin{array} { l } \text { Tennis } \\\text { membership anly }\end{array} & \begin{array} { l } \text { Galf membership } \\\text { anly }\end{array} \\\hline \text { Tennis-ariented } & \$ 150 & \$ 50 \\\hline \text { Galf-ariented } & \$ 75 & \$ 200 \\\hline\end{array}$$
-How much total revenue can be generated each month under the pricing plan in the previous question?

• A) $20,000
• B) $25,000
• C) $35,000
• D) $70,000
• E) $95,000

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Definitions:

Macroeconomic Environments

The broad economic conditions and contexts that affect the economy as a whole, including inflation rates, growth rates, employment levels, and government policies.

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data values from its mean.

HMO

Health Maintenance Organization, a medical insurance group that provides health services for a fixed annual fee.

Expected Revenue

The anticipated amount of money a business expects to receive over a certain period, accounting for factors like price and demand for its goods or services.